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Auto Trader’s Retail Price Index has revealed that the average price of a used car in the UK in November was £12,589. The figure was down by £50 on the October price, constituting the first month-on-month decline in eight months.

Diesel prices saw a monthly decline of £143 on the previous month, to £14,412, this amounts to an increase of 3% on November 2016. The average price of a used petrol car increased £55 month-on-month, reaching £10,342. On a like-for-like basis, this equates to a year-on-year increase of 11%.

The Auto Trader Retail Price Index combines and analyses data from c. 500,000 trade used car listings every day, and dealer forecourt and website data.Auto Trader says searches for diesel cars have steadily declined in line with market sentiment; falling from 71% to a low of 54% in May 2017. However, diesel searches were up to 56% of all fuel related searches in September. This figure remains flat, accounting for 55% of all fuel searches in October and November respectively. Searches of petrol represented 41% of all fuel searches in November, remaining consistent from October when they accounted for 40%.

Karolina Edwards-Smajda, Auto Trader’s Retailer and Consumer Product Director, commented, “The negative rhetoric surrounding diesel, which has been fuelled by the government’s recent announcements is undoubtedly contributing to the decline in new and used car sales and has impacted used car prices in November.

“Although used diesels have been showing much greater resilience, with their value continuing to increase year-on-year, as well as remaining the most searched for fuel type on our marketplace, the Index does show a small month-on-month decline for the first time in eight months. It’s too early to tell whether this is an emerging trend or not, so we will continue to monitor prices closely.”

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